THE owner of airline and package holidays business group Jet2 are confident that the Brexit vote will not dent its growth following a strong summer season.
Dart Group, which operates Leeds Bradford Airport-based leisure airline Jet2.com and Jet2hoilidays, along with logistics and distribution firm Fowler and Welch, has reported significant rises in interim profits and revenues.
Group revenues rose by 22 per cent to £1.24 million in the half-year to September 30. Pre-tax profits were 12 per cent higher at £163.7 million, with operating profits up by 14 per cent to £167.5 million.
The interim dividend payout will rise by 53 per cent to 1.375p a share .
Leisure travel revenues were boosted by a 36 per cent increase in the number of Jet2holidays package holiday customers from 940,000 to 1.28 million. . Jet2.com flew a total of 5.07m passengers in the period, 12 per cent more than the same period last year.
Dart said airline ticket yields and average load factors were slightly lower than last summer, but this was against a backdrop of a 13 per cent increase in seat capacity.
The company warned of increased losses in the second half due to the cost of launching new bases at Birmingham and London Stansted airports, along with additional aircraft, advertising and people in readiness for Jet2’s expanded flights programme next summer. Flights from these airports are due to start in late March
While a weaker pound had pushed up prices, chairman Philip Meeson said Dart was confident about the resilience of its leisure travel business. Winter bookings continued to perform in line with expectations and the board was optimistic that market expectations for the full year would be slightly exceeded.
Capital expenditure rose from £60.9 million to £80.1 million during the period and included the group’s first new Boeing 737-800NG aircraft and adding a fourth flight simulator for Jet2’s Bradford training centre.
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